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Home > Waco Breaking News > Archives > 2008 > September > 05 > Entry
Nation’s unemployment hits five-year high
Not good news today on the economy. The unemployment rate soared to a nearly five-year high in August as employers trimmed jobs for the eighth straight month, the government reported today.
The unemployment rate rose to 6.1 percent, the highest level since September 2003. That’s up from 5.7 percent in July and 4.7 percent a year ago.
In addition, the economy suffered a net loss of 84,000 jobs in August, according to the U.S. Department of Labor, compared to a revised reading of a 60,000-job loss in July.
The U.S. economy has lost 605,000 jobs so far this year.
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